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The 4th Edition of the Cheaponana guide to the best rebates credit card has 2 new additions compared to Version 3 as we have included ANZ Optimum card and UOB Visa Signature – both of which are pretty generous with 5% rebates in specific categories. Over the past 1 year, there have been massive changes to the rebate structures for a few cards including the CIMB Platinum & Visa Signature, Citibank Dividend and OCBC Frank Card.

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Here’s a quick rundown of the cards according to the issuing banks:

American Express

AMEX True Cashback card has scaled back on the 5% rebate for the initial spending of $5000, giving only 3% rebate. Otherwise, the 1.5% rebate is quite fuss-free and ideal for the assorted categories (i.e. non dining, petrol, groceries etc).

ANZ

ANZ released the Optimum card last year, which offers 5% cash rebate in one of the 4 categories – dining & entertainment, travel, shopping & groceries. The plus points include no minimum spend or cap on rebate, but there is a maximum of $30 Optimum$ rebate per transaction (i.e. $600). Do take note that you get $0.5 Optimum$ per $10 spent, and the total sum of Optimum$ at the end of the statement month is rounded down to $1 Optimum$, so you will never get the absolute 5% rebate.

Bank of China

T&C remains status quo.

CIMB

There have been massive changes in the CIMB credit cards over the year as the CIMB Visa Signature and Platinum MasterCard have been revamped to provide 10% rebate on Wine & Dine & online spending in foreign currencies for the former and Travel, Health, Beauty & Wellness for the latter. However, it is not easy to qualify since there is a need for 8 transactions per month, each requiring $30 or more, and a cap of $60/month. Morever, the base rate has been cut to 0.2% which is pathetic. One good thing is the waiver of the 1.4% admin charge for foreign transactions, which may help you save more if you can achieve the above mentioned.

Citibank

Citibank has increased the minimum spend of the Dividend card to $888 to qualify for any bonus rebates, which is 8% in the categories of dining, groceries or petrol. This is definitely a good deal for homemakers and those who spend consistently in these 3 categories, and now there is no expiry for the DIV$! However, the base rate has been halved from 0.5% to 0.25%.

DBS

DBS Live Fresh Visa Card has been added as it provides 6% cashback on all online purchases but this is expected to end 29/2/16. For now, this is one of the better rebate deal for online transactions apart from Stanchart Singpost card. (OCBC Frank card has already fallen out of favour if you are not aware)

HSBC

HSBC Visa Platinum and Premier Master has added another category for the bill payments for Telcos – 5% rebate if you meet the criteria. Not the best rebate card since there is a minimum spending required per month before getting the rebate at the end of the quarter.

Maybank

Things have been status quo for the past year.

OCBC

OCBC Frank card has definitely fallen out of favour since they have cut the base rate to 0.3%, and requires an offline spending of $400/month excluding Nets Flashpay ATU in order to qualify for the 6% rebates for online purchases. Of course, one may argue the 3-5% rebate for the new entertainment category can help boost spending to qualify for that.

Standard Chartered

Stanchart Singpost has cut the base rate to 0.2%, and has increased the minimum spending to $600/month with a cap of $60 of rebates a month.

POSB

POSB Everyday Card has occasional promotions e.g. bonus rebates for dining, but these promotions have been discontinued at the moment.

UOB

UOB Visa Signature has been added to the list as it generates 5% rebate for overseas, online, petrol and Visa paywave provided you can hit the minimum requirement of $1000 a month and cap at $2000.

UOB’s Delight has cut their base rate as well to 0.3%, and the maximum rebate also cut from 10% to 8%.

UOB One Card has increased the minimum spend to $500 per month for 3 consecutive months in a quarter to qualify for a $50 rebate (3.33%). For those who spend $2000 a month, then the reward of 5% rebate is yours.

After reading this lengthy article, you will realise there is no one best card that fits all, and every individual will have a different lifestyle that may make a particular card work more to his or her advantage.

What’s your favourite rebate card? Comment and let us know!

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10 Responses to Which is the best rebate credit card in Singapore 2016? #Version 4

  1. lala says:

    Hmm am i right to say, that HSBC is one of the few rebate cards that give you points? thtas worth another 0.5% – 1% on top of what it gives alr?

    • Cheaponana says:

      Hi
      Actually you are right! HSBC gives 1 reward point per $1 – that is on top of the rebates 🙂

      • lala says:

        iirc, every 1200 spend will give you 1200 points which is can be redeem for a car wash, which is worth around 7 dollars? thats another 0.58% rebate

  2. Chris says:

    How about the AMEX platinum card? Is that any good? That used to be one of my favourite cards with no expiry on their points/reward.

    • Cheaponana says:

      Hi Chris
      Technically, AMEX platinum is not a rebates card, and it’s a great card when it comes to dining as its FAR and palate cards provide excellent discounts for 2 or more people. For this particular card, it earns 2 points/$1.60 spent (i.e. 1.25 points/$1). 1000 points can be converted to $4.80 to offset your credit card, which gives a 0.6% rebate – which is not the worst in the market, but not the best for spending in specific categories.

  3. Edwin says:

    I think the rebates for CIMB has recently been revamped again to give lesser. You might want to check again

  4. Rafe says:

    Small spending with UOB visa is hard, unless you lump the big spending up together. I never really follow UOB smart$ rebates thou..

  5. Nitin says:

    Nice site. I always come here to compare cards. My current favorite is the ANZ optimum, simply because we eat out a lot and my maximum spend is on dining. Every quarter I select the dining category.

    OCBC cards for some reason are the worst in terms of rebates. However, among them I think Robinson’s is the best, because we shop a lot in Singapore Expo and whenever there is John Little or Robinson’s expo we sure buy. Robinson’s card gives 5% discount and also it is another card which gives Robs$ for spend outside of Robinsons. 1 Robs$ for every 2$ spend and 1$ rebate for every 200 Robs$ accumulated so it is 0.25% rebate.

    • Cheaponana says:

      Hi Nitin!
      Thanks for your support! Yes, I like the ANZ optimum as well, but do take note that they do round down the rebates, so in reality you get less than 5% rebate. And it is definitely a hassle to select the option every quarter! There should be feedback to ask them to leave it status quo unless one asks for a change!

      Regards
      Cheaponana

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